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Income Tax rules allow fair market value as on April 1, 2001 for ancestral property acquired before that date, reducing capital gains tax liability.
Union Budget 2026 shifts buyback taxation to shareholders, taxing proceeds as capital gains and ending company-level buyback tax under Section 115QA.
Budget 2026 limits tax-free redemption of Sovereign Gold Bonds to original buyers holding till maturity, taxing secondary market investors from April 2026.
Budget 2026 introduces the new Income Tax Act replacing the 1961 law, simplifying deductions, exemptions, capital gains rules, and tax compliance.
ITAT Delhi rules that Section 54F exemption cannot be denied due to builder’s delay in possession, holding that genuine investment intent is sufficient for tax relief.